XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Goodwill and Other Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS: A summary of changes in Quanta’s goodwill is as follows (in thousands):
|  | Electric Power Infrastructure Services Division |  | Oil and Gas Infrastructure Services Division |  | Total
Balance at December 31, 2017: |  |  |  |  |  |
Goodwill |  | $ | 1,272,527 |  |  | $ | 693,905 |  |  | $ | 1,966,432 |
Accumulated impairment |  | — |  |  | (97,832 | ) |  | (97,832 | )
|  | 1,272,527 |  |  | 596,073 |  |  | 1,868,600 |
Goodwill recorded related to 2018 acquisitions |  | 43,181 |  |  | — |  |  | 43,181 |
Purchase price allocation adjustments |  | 51 |  |  | — |  |  | 51 |
Foreign currency translation adjustments |  | (8,772 | ) |  | (5,396 | ) |  | (14,168 | )
Balance at June 30, 2018: |  |  |  |  |  |
Goodwill |  | 1,306,987 |  |  | 687,789 |  |  | 1,994,776 |
Accumulated impairment |  | — |  |  | (97,112 | ) |  | (97,112 | )
|  | $ | 1,306,987 |  |  | $ | 590,677 |  |  | $ | 1,897,664 |
Also, as described in Note 2, Quanta’s operating units are organized into one of Quanta’s two internal divisions, and accordingly the goodwill associated with the operating units has been aggregated on a divisional basis in the table above. These divisions are closely aligned with Quanta’s reportable segments, and operating units are assigned to a division based on the predominant type of work performed. From time to time, an operating unit may be reorganized between divisions if warranted due to changes in its predominant business. Quanta’s intangible assets and the remaining weighted average amortization periods related to Quanta’s intangible assets subject to amortization were as follows (in thousands except for weighted average amortization periods, which are in years):
|  | As of |  | As of |  | As of
|  | June 30, 2018 |  | December 31, 2017 |  | June 30, 2018
|  | Intangible Assets |  | Accumulated Amortization |  | Intangible Assets, Net |  | Intangible Assets |  | Accumulated Amortization |  | Intangible Assets, Net |  | Remaining Weighted Average Amortization Period in Years
Customer relationships |  | $ | 326,181 |  |  | $ | (150,677 | ) |  | $ | 175,504 |  |  | $ | 327,334 |  |  | $ | (137,333 | ) |  | $ | 190,001 |  |  | 6.8
Backlog |  | 135,772 |  |  | (134,885 | ) |  | 887 |  |  | 136,266 |  |  | (135,847 | ) |  | 419 |  |  | 0.7
Trade names |  | 80,279 |  |  | (19,289 | ) |  | 60,990 |  |  | 74,797 |  |  | (17,057 | ) |  | 57,740 |  |  | 15.8
Non-compete agreements |  | 37,601 |  |  | (28,843 | ) |  | 8,758 |  |  | 37,760 |  |  | (27,659 | ) |  | 10,101 |  |  | 3.6
Patented rights and developed technology |  | 22,507 |  |  | (18,427 | ) |  | 4,080 |  |  | 22,529 |  |  | (17,611 | ) |  | 4,918 |  |  | 2.9
Curriculum |  | 9,000 |  |  | (399 | ) |  | 8,601 |  |  | — |  |  | — |  |  | — |  |  | 9.6
Total intangible assets subject to amortization |  | 611,340 |  |  | (352,520 | ) |  | 258,820 |  |  | 598,686 |  |  | (335,507 | ) |  | 263,179 |  |  | 8.8
Engineering license |  | 3,000 |  |  | — |  |  | 3,000 |  |  | — |  |  | — |  |  | — |  |  |
Total intangible assets |  | $ | 614,340 |  |  | $ | (352,520 | ) |  | $ | 261,820 |  |  | $ | 598,686 |  |  | $ | (335,507 | ) |  | $ | 263,179 |  |  |
Amortization expense for intangible assets was $10.5 million and $6.5 million for the three months ended June 30, 2018 and 2017 and $20.9 million and $13.1 million for the six months ended June 30, 2018 and 2017. The estimated future aggregate amortization expense of intangible assets subject to amortization as of June 30, 2018 is set forth below (in thousands):
For the Fiscal Year Ending December 31, |  |  |
Remainder of 2018 |  | $ | 20,880 |
2019 |  | 38,683 |
2020 |  | 37,265 |
2021 |  | 34,932 |
2022 |  | 31,403 |
Thereafter |  | 95,657 |
Total |  | $ | 258,820 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration